“The problem isn’t pensions, it’s fewer people working”
That is incorrect, as I’ve pointed out with facts and data in multiple posts on this thread. I even provided a chart showing that employment rates for those aged 16- retirement this decade are higher than they have ever been since the 1970s. It is a myth that fewer working-aged adults are working now than previously. If you did want to analyse the more detailed data you’d also find that they are working more hours on average. And getting paid less in real-terms, despite working harder and more of them working than ever before.
All of the economic data is published and publicly available, should you wish to inform yourself rather than parroting nonsense you heard on G-Beebies.
Yes, my comments on the thread are “simplified” because it’s apparent that many people posting don’t even have a GCSE-level basic understanding of economics so I’ve of course had to try to keep it fairly simple. And of course, per my earlier comments, the systems in no country are perfect. What is undeniable, however, is that the UK’s specific economic woes are far worse than they needed to be and not caused entirely by recent geopolitical issues given that our GDP per capita and living standards are continually falling proportionately to what used to be our comparator countries.
As economists we spend a lot of time looking at the international comparison data, the systems in different countries and their real-world effects, and it is very clear which problems are causing these UK-specific issues (that are within the power of our Government to address) and what the solutions are, some of which I’ve outlined here for anybody who actually wanted to engage with the thread topic in a genuine, rational and factual manner rather than utilise the thread to spout off about their personal prejudices and highlight to everyone reading their lack of economic understanding or grasp of basic maths.
As usual, statement of facts and numbers has been ignored by the majority of posters, engaged with by a very small proportion, and caused outrage amongst those who appear to live in an alternative reality of their own creation where facts and data don’t exist and are therefore furious whenever anybody dares to mention them.
It is sad because there are solutions to these issues. No system is perfect as I said yesterday but there are systems which have been proven to work far more effectively than ours providing better social and financial outcomes, value for money, etc that we can emulate if we wish and would be equally functional in the UK as in the similar countries that have created/ adopted them already. If the UK takes the appropriate actions to reform healthcare, education, pensions, infrastructure, international trade and its tax system then living standards will start to rise again. If it doesn’t then they won’t. If the electorate is so idiotic that it continually allows its politicians to implement policies that accelerate the decline then obviously that is what will continue to happen. And if it votes in Reform then this will happen on fast forward.